EFG Corp-Solutions, Elsewedy Industrial Development sign agreement to offer financial services for SOKHNA360 customers

Daily News Egypt
3 Min Read

EFG Corp-Solutions, a subsidiary of EFG Finance and an EFG Holding Company, and one of Egypt’s leading leasing and factoring companies, announced today that it signed an agreement with Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, to offer a holistic set of financing solutions for its SOKHNA360 integrated industrial city located in the SCZONE.

The agreement stipulates that EFG Corp-Solutions will finance the SOKHNA360’s clients of Elsewedy Industrial Development within the Suez Canal Economic Zone on an area of 10 million square meters. The aim is to provide comprehensive financial solutions for manufacturers’ investment projects from land acquisition to fixed assets, in line with Elsewedy Industrial Development’s vision to attract new local and foreign direct investors to SOKHNA360 integrated industrial city.

As part of this strategic collaboration, EFG Corp-Solutions will offer financing and facilities in various forms, such as direct financial leasing, sale with releasing, and financial rights factoring, as well as financing the working capital cycle. The financing scope covers a wide range of assets, such as real estate, administrative and commercial headquarters, factories, lease production lines, transport and packaging vehicles, and private cars for employees.

Talal El Ayat, CEO of EFG Corp-Solutions, said: “We are excited to be part of Elsewedy Industrial Development’s transformative SOKHNA360 integrated industrial city project. EFG Corp-Solutions is committed to providing innovative financial solutions that meet the unique needs of businesses and contribute to the success of projects that drive economic growth. We believe our expertise in leasing and factoring will play a vital role in supporting Elsewedy Industrial Development’s vision for this landmark project that contributes to Egypt’s industrial development goals.”

Mohamed AlKammah, CEO of Elsewedy Industrial Development, said: “We are happy to collaborate with EFG Corp-Solutions as it adds significant value to our operations. The agreement enables us to offer financing solutions to our clients for up to ten years, which is the longest payment plan provided by an industrial developer in Egypt.” He added: “In addition to providing developed industrial parks, we constantly strive to develop solutions and provide added value to help our customers and investors boost the country’s economy. We are determined to eliminate any barriers that prevent the efficient expansion of industrial investments, thus maximizing their impact.”

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